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Cyprium Metals (ASX:CYM) Pleased With Excellent Drilling Results At Nanadie

  • January 25, 2021 07:50 PM AEDT
  • Kunal Sawhney
    Kunal Sawhney
    CEO Kunal Sawhney
    2781 Posts

    Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

Cyprium Metals (ASX:CYM) Pleased With Excellent Drilling Results At Nanadie

Summary

  • Cyprium Metals’ RC drilling programme at the Nanadie Well Copper-Gold project has returned extensive supergene mineralisation. 
  • RC drilling is undertaken at Nanadie Well to test as well as define the extent of supergene mineralisation at the deposit. 
  • The results from drilling will be used for the preparation of JORC 2012 compliant Mineral resource for the project as well as in ongoing scoping study for Murchison projects.  

The exploration endeavours of Australian explorer, Cyprium Metals Limited (ASX: CYM) continue to catch a break with visible copper supergene mineralisation. Significantly, Cyprium has observed widespread, near-surface supergene mineralisation from the ongoing Phase 1 Reverse Circulation (RC) drilling programme at the Nanadie Well Copper-Gold project.

The 3500m drilling programme, which commenced in early January 2021, has so far returned encouraging results, thereby taking forward Cyprium’s strategy to drill out the resource at the Nanadie Well project. 

Following the significant update, CYM shared marked an uptick of ~2% on 25 January 2021, trading at $0.270 mid-day.                    

ALSO READ: Cyprium Metals (ASX:CYM) Going Great Guns With Diamond Drilling at Nanadie Well

Source: CYM ASX Update, 25 January 2021

Upbeat Exploration with Supergene Mineralisation

The drilling at the Nanadie Well Project has defined near-surface supergene mineralisation. Significantly, the mineralisation is open along strike to the west, north as well as south. The supergene mineralisation is covered by transported and unconsolidated sediments (1m x 25m) in the project area and does not outcrop.

Source: CYM ASX Update, 25 January 2021

The Company undertook preliminary investigations which have indicated that there lies supergene mineralisation potential over the full and currently defined 750 metres of strike.

The supergene consists of mineralised intersections for metals such as copper, gold, and silver. Meanwhile, the previously drilled RC rock chips consisted of oxide copper minerals like malachite, which can be rapidly leached on sulphuric acid treatment. 

Drilling Programme Making Headway

The Company’s Phase 1 RC drilling is committed to testing the supergene mineralisation at the Nanadie Well deposit.

The planned drill holes have intersected strong oxide mineralisation while sulphide mineralisation was also intersected from several drill holes including NWRC21018 from 26m.  

Source: CYM ASX Update, 25 January 2021

Drill hole NWRC21031 tests that the supergene mineralisation trends north-west, with strong visual copper oxide mineralisation intersected between 9m to 11m and 20m to 21m. 

ALSO READ: Cyprium Metals (ASX:CYM) Kicks Off RC Drilling at Nanadie Well Copper-Gold Project

Strong visual copper oxide mineralisation was intersected between 23m to 28m with sulphide mineralisation from 36m.

Source: CYM ASX Update, 25 January 2021

Next Steps

The Company plans on preparing a JORC Code 2012 compliant mineral resource estimate (MRE) which will utilise data from the ongoing RC drilling and subsequent programmes at the Nanadie Well deposit. The release of the MRE for the project is anticipated in H2 2021. 

Meanwhile, Cyprium is also advancing a scoping study on the Murchison Copper-Gold Project (Cue Project and Nanadie Well) and will include the mineral resource delineated by the exploration programmes. 

ALSO READ: Cyprium Metals (ASX:CYM) Winds Up Geophysics Programmes at Murchison Copper-Gold Projects

The follow-up drilling programmes would be planned accordingly as per the results from the ongoing programmes. The subsequent programmes would target the mineralisation extensions at the project. 

Management Commentary

Commenting on the latest update of the reverse circulation drill programme, Executive Director Barry Cahill stated that visible copper supergene mineralisation like malachite, chrysocolla and azurite have been observed in the RC chips from the drilling to date.

He indicated the presence of visible minerals to be very exciting, and added that the Company intends to submit samples to the assay laboratory for analysis. Mr Cahill highlighted the ease of leachability of Supergene mineralisation which complements Cyprium’s neighbouring Hollandaire mineral resource that has a massive sulphide orebody with proven acid-generating capacity.

The Company is looking forward to the programme results that would be used for further exploration endeavours at Cyprium’s project portfolio. 

 

 


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